Gold is in the final phase of the baby bull rally. This is the stage that causes maximum pain for shorts that were unable to recognize that the bear market is over, or tried to sell short (I warned and warned traders not to short a baby bull).

This is also the stage that causes maximum anxiety for longs who aren’t in the market. This is the time when the bull tries to get as many traders as possible to panic in at the top so as to catch them in the first reaction.